Sri Lanka’s Economic Recovery Gains Momentum: Central Bank Presents Annual Review to President

Colombo, April 7 LankaXpress — Marking a significant milestone in Sri Lanka’s ongoing economic recovery, the Central Bank of Sri Lanka (CBSL) today presented its flagship publication, the Annual Economic Review 2024 (AER 2024), to President and Minister of Finance Anura Kumara Dissanayake.

The report was officially handed over by Central Bank Governor Dr. P. Nandalal Weerasinghe during a ceremony held at the Presidential Secretariat. The event highlighted the steady progress made by the Sri Lankan economy following the country’s most severe economic downturn in recent history.

The Annual Economic Review 2024 outlines developments under four key areas: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank Policies, and the Macroeconomic Outlook.

According to the report, the Sri Lankan economy showed significant signs of recovery throughout 2024, marking a faster-than-expected rebound compared to other debt-distressed nations. The review attributes this positive momentum to improved economic activity, a partial resurgence in purchasing power, and reduced economic uncertainty.

The presentation was attended by several high-ranking officials, including Dr. Nandika Sanath Kumanayake, Secretary to the President; Mr. K. M. Mahinda Siriwardena, Secretary to the Treasury; Mrs. K. M. A. N. Daulagala, Senior Deputy Governor of the CBSL; and other senior officials from the Central Bank’s Economic Research Department.

The Annual Economic Review serves as a key reference for policymakers, economists, and stakeholders tracking Sri Lanka’s progress toward macroeconomic stability and long-term recovery.